The state-controlled cement producer PT Semen Gresik Tbk (SMGR), Indonesia's largest cement company, today reported a 14.72% increase in net profit for the first 6 months of this year as a result of higher revenue.
Semen Gresik booked Rp1.87 trillion net profit in 1H 2011 from Rp1.63 trillion. Operating profit increased 10.73% to Rp2.27 trillion from Rp2.05 trillion. However, operating margin slightly fell to 29.83% from 30.78% as a result of higher selling expenses of 17.89% to Rp687.72 billion from Rp584.31 billion.
Semen Gresik's gross profit climbed 10.44% to Rp3.49 trillion from Rp3.16 trillion. Revenue increased 14.26% to Rp7.61 trillion from Rp6.61 trillion.
Disclosure: No position at the stock mentioned above.
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